Home / Finance & Economy / Spain: The first commercial partner of Morocco in 2018

Spain: The first commercial partner of Morocco in 2018

Spain remained Morocco’s leading trading partner in 2018, both in terms of exports and imports, for the seventh year in a row, according to data published by the Statistical Office of the European Union’s Commission (Eurostat).

In 2018, Spanish exports to Morocco amounted to 8.221 million euros, up 2.5% from the previous year, thus setting a new historical record, the source said.

The value of Spanish exports to the Kingdom has doubled in the last 7 years, from 4.130 million euros in 2011 to 8.221 million in 2018.

Morocco was the ninth world destination for Spanish goods in 2018 and the second outside the European Union, just behind the United States. Similarly, Spanish exports to Morocco represent 2.9% of the total of Iberian exports worldwide.

The number of Spanish companies exporting goods to Morocco stood at 20,714 units in 2018, an increase of 4.8% (nearly 1,000 more companies) than in 2017. This makes the Kingdom the third largest countries of the world that have recorded the largest increase in the number of Spanish companies that export their products.

These figures also make Morocco Spain’s largest trading partner in North Africa, sub-Saharan Africa and the Middle East. Trade between the two countries accounts for 56% of total Spanish exports to North Africa.

Almost half of Spanish exports to Africa are destined for Morocco, which in 2018 received 44% of Spanish exports to the African continent.

In the same context, the value of imports of Moroccan products by Spain has doubled in the last 7 years, from 3.100 million euros in 2011 to 6.652 million in 2018.

The Kingdom was the first African supplier of Spain during the past year with exports representing 24% of those of all African countries to the Iberian country.

Morocco is also the 11th largest supplier of Spain worldwide, outside the European Union.

Check Also

Drought: Dams in Morocco filled to 39.7% against 49% a year ago

The reservoirs of the main national dams have reached, to date, more than 6.19 billion …

Leave a Reply